East Bay Asian Local Development Corporation | Predevelopment Line of Credit
NeighborWorks Capital is pleased to extend a $6.2 million refinance of a predevelopment line of credit to the East Bay Asian Local Development Corporation (EBALDC) in Oakland, CA. The line of credit will support costs for EBALDC’s affordable housing development activity.
Kiva Apartments
Preserve 64 naturally-occurring affordable apartments for residents earning below 80% of area median income
Fifth Ward CRC Expands Single-Family Homeownership in Houston
After the back-to-back challenges of Hurricane Harvey, the COVID pandemic, and Texas’s February 2021 winter storms, Fifth Ward Community Redevelopment Corporation is looking to the future. They aim to build nearly 30 affordable homes for families in the next two years.
Meeker Commons | Rocky Mountain Communities
Rocky Mountain Communities (RMC) recently closed on a $4,838,867 permanent loan with NeighborWorks Capital for Meeker Commons in Greeley, CO. The 104-unit property is a key element of affordable housing in the city of Greeley, and NeighborWorks Capital’s new 10-year loan will repay existing bank and redevelopment agency financing, allowing the city to invest in new affordable developments.
Affordable, Supportive Housing for Seniors, Veterans, and People with Mental Health Disabilities
A Community of Friends (ACOF) is one of the largest affordable housing developers in Los Angeles County, and in 2015, they partnered with NeighborWorks Capital to acquire land in Huntington Park, CA. to construct Huntington Square, a mixed-use development with affordable apartments and commercial space.
Bay Street Apartments
NeighborWorks Capital is pleased to extend a $673,000 construction-to-permanent loan to Lakes Region Community Developers for Bay Street Apartments.
2205 Mission St. | Mission Economic Development Agency
In San Francisco, where the cost of living is among the highest in the country, educators and other public service workers struggle to afford to live in the community where they work. Salaries have not kept up with rising costs, and workers have been forced to move outside of the city or turn to other professions entirely.
Barbour Street Development
NeighborWorks Capital is pleased to extend a $400,000 predevelopment loan to Mutual Housing Association of Greater Hartford for Barbour Street Development to be built in the Northeast Neighborhood of Hartford, CT. This new construction development will provide 60 affordable rental housing units and 8,700 square feet of commercial space across multiple buildings.
Spruce Meadows and Spruce Ridge
PCG and NeighborWorks Capital provide financing for two LIHTC projects that will create 86 units of quality affordable housing in Connecticut.
Zion Crossing Predevelopment
NeighborWorks Capital is pleased to extend an $882,400 predevelopment loan to Mutual Housing Association of Greater Hartford for Zion Crossing, a proposed 95-unit scattered site affordable apartment development located in Hartford, CT. Zion Crossing will include units in 22 existing buildings within a ½ mile radius. Brick Hollow Apartments is a 50-unit apartment complex, Zion Street Mutual Housing has 24 apartments, and seven smaller properties will comprise 21 additional apartments.